Impax Asset Management Group plc Makes New Investment in International Paper Company (NYSE:IP)

Impax Asset Management Group plc purchased a new stake in shares of International Paper Company (NYSE:IP - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 259,208 shares of the basic materials company's stock, valued at approximately $13,829,000.

Several other large investors have also made changes to their positions in IP. Jones Financial Companies Lllp lifted its holdings in shares of International Paper by 18.0% during the fourth quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company's stock worth $946,000 after buying an additional 2,685 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in International Paper by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,989 shares of the basic materials company's stock valued at $1,345,000 after buying an additional 537 shares in the last quarter. Assetmark Inc. grew its holdings in shares of International Paper by 79.9% in the 4th quarter. Assetmark Inc. now owns 2,130 shares of the basic materials company's stock worth $115,000 after purchasing an additional 946 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in International Paper in the fourth quarter valued at about $9,063,000. Finally, Arizona State Retirement System boosted its stake in International Paper by 1.4% in the fourth quarter. Arizona State Retirement System now owns 95,851 shares of the basic materials company's stock worth $5,159,000 after purchasing an additional 1,316 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Royal Bank Of Canada reissued an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. UBS Group assumed coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target for the company. Finally, Truist Financial set a $59.00 price target on International Paper in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $54.54.

International Paper Stock Performance

IP traded up $0.71 during trading hours on Wednesday, reaching $51.31. The company's stock had a trading volume of 2,523,484 shares, compared to its average volume of 6,868,190. International Paper Company has a 52 week low of $42.26 and a 52 week high of $60.36. The firm has a market cap of $27.09 billion, a PE ratio of 43.86, a price-to-earnings-growth ratio of 0.46 and a beta of 1.02. The company's 50-day moving average is $47.44 and its 200-day moving average is $51.06. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.05% and a net margin of 1.99%. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same quarter in the previous year, the business earned $0.17 EPS. The firm's quarterly revenue was up 27.8% on a year-over-year basis. On average, equities analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, May 23rd. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Insider Buying and Selling at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer directly owned 31,525 shares in the company, valued at $1,413,896.25. This trade represents a 19.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.55% of the company's stock.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.